Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 failed to stay in the green in a choppy session on Thursday, as investors globally overlooked reassuring comments from the Fed amid nervousness on the Russia-Ukraine war front.
“These are all long dated option instruments; some of them will deliver tremendous value, and some of them, or rather most of them, will lose out on the way especially as the terminal value for a lot of these companies is anywhere between 85, 90 and 95 percent of the current market cap,” says Krishnan.
“We prefer to have a basket kind of approach on say 2-3-4 of them, and have a smallish position and to see how they evolve.
Hemant Jalan, CMD of Indigo Paints, shares his views on what surging oil prices mean for the company.
And that’s what is the issue for the market because if this thing goes out of control, and RBI is forced to hike up rates, it can damage the markets and I think that’s what is somewhat reflected in the recent share price movements that we have seen,” he says.
Clearly, the biggest improvement is seen in large private lenders, he says.
Vedanta shares up 0.3 percent at Rs 388.5, having risen as much as 3.5 percent earlier in the day.
There is scope for a rupee ruble arrangement, say sources.
The Nifty Auto down 0.7 percent at noon, joining the banking index in the red after rising more than one percent earlier in the day.
Harendra Kumar, MD at Elara Securities, is of the view that the market still has not gotten a sense of the real deamnd for the auto sector.
It’s not that it’s a secular revival but I think autos is where we still feel it’s the normalcy and there is lot of value on a historical basis,” he adds.